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U.S. Commerce Department to place restrictions on China's ZTE

"The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp. for alleged violations of U.S. export controls on Iran. The restrictions will make it difficult for the company to acquire U.S. products."

ZTE makes telecom inastructure equipment and mobile phones, and the sanctions could affect ZTE's ablity to aqcuire phone processors from the likes of Qualcomm.

"The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp. for alleged violations of U.S. export controls on Iran. The restrictions will make it difficult for the company to acquire U.S. products."